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  #2161  
Old Posted May 12, 2022, 5:22 PM
BrinChi BrinChi is offline
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Is the tower fully financed? Hope we don't see this crap out again if we enter into recession. Knock on wood.
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  #2162  
Old Posted May 12, 2022, 5:56 PM
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Originally Posted by BrinChi View Post
Is the tower fully financed? Hope we don't see this crap out again if we enter into recession. Knock on wood.
They closed on a $305M construction loan back on dec. 8th.

I don't know if that 100% funds the construction of this tower, but it'll certainly go a LONG way toward it.
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  #2163  
Old Posted May 12, 2022, 5:58 PM
rivernorthlurker rivernorthlurker is offline
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Originally Posted by BrinChi View Post
Is the tower fully financed? Hope we don't see this crap out again if we enter into recession. Knock on wood.
As Steely says, I think so https://commercialobserver.com/2021/...o-multifamily/

With the foundation already completed, I have to believe that this would be about enough to finish it based on costs of other towers of this size/type. Being rental the finishes will also cost less than the previous condo design too methinks. Also majority of the design/engineering would have been already completed.

Last edited by rivernorthlurker; May 12, 2022 at 6:14 PM.
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  #2164  
Old Posted May 12, 2022, 6:41 PM
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Originally Posted by rivernorthlurker View Post
As Steely says, I think so https://commercialobserver.com/2021/...o-multifamily/

With the foundation already completed, I have to believe that this would be about enough to finish it based on costs of other towers of this size/type. Being rental the finishes will also cost less than the previous condo design too methinks. Also majority of the design/engineering would have been already completed.
Also the previous recession was somewhat unusual in that it completely undermined the housing market AND the banking and credit system.

Right now, the situation just looks like a bear market (especially in tech) similar to the 2001 recession. I don’t think banks will halt most loans like last time, even if they’re likely to be cautious.
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  #2165  
Old Posted May 12, 2022, 7:13 PM
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This one should be ok now with most of the funding in place. Anyone who does not believe we are heading down a rabbit's hole with the economy is going to be surprised in a few years.
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  #2166  
Old Posted May 12, 2022, 7:22 PM
rivernorthlurker rivernorthlurker is offline
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This one should be ok now with most of the funding in place. Anyone who does not believe we are heading down a rabbit's hole with the economy is going to be surprised in a few years.
Who woulda thunk that a 20% unemployment spike and a year and a half with half the country sitting at home would have consequences?!
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  #2167  
Old Posted May 12, 2022, 7:37 PM
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this is not the proper thread to discuss future national/global economic trends.

this project has a closed construction loan, so that issue is settled, now let's please stay on topic.
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  #2168  
Old Posted May 17, 2022, 2:19 AM
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  #2169  
Old Posted May 17, 2022, 7:34 PM
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  #2170  
Old Posted May 25, 2022, 1:10 AM
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  #2171  
Old Posted May 27, 2022, 6:00 PM
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  #2172  
Old Posted May 27, 2022, 8:20 PM
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Came across an interesting podcast talking about 1000M with one of the architects that worked with Helmut Jahn on the design. Worth a listen IMO:
https://www.multihousingnews.com/arc...ving-attitude/
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  #2173  
Old Posted May 28, 2022, 1:22 AM
Drcastro Drcastro is offline
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Did the front right corner of the adjacent building get demoed for this project, or was that unrelated? Google Street View shows it intact 9 months ago except for the top ten feet or so.
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  #2174  
Old Posted Jun 12, 2022, 1:38 PM
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  #2175  
Old Posted Jun 12, 2022, 3:17 PM
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Did the front right corner of the adjacent building get demoed for this project, or was that unrelated? Google Street View shows it intact 9 months ago except for the top ten feet or so.
I don't know for sure, but I would wager the terra cotta was removed to protect it and will be reassembled in conjunction with the towers façade?
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  #2176  
Old Posted Jun 12, 2022, 4:35 PM
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I don't know for sure, but I would wager the terra cotta was removed to protect it and will be reassembled in conjunction with the towers façade?
I sure hope you’re right.
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  #2177  
Old Posted Jun 12, 2022, 5:15 PM
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^The floorplate slabs may have also needed the clearance that the terra cotta was preventing in some way. Either way, I'd imagine the developers are footing the entire bill for the work.
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  #2178  
Old Posted Jun 13, 2022, 2:45 AM
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  #2179  
Old Posted Jun 13, 2022, 4:55 AM
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  #2180  
Old Posted Jun 13, 2022, 1:53 PM
Chisouthside Chisouthside is offline
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I can see the crane now, peeking out from my floor in 300 east randolph.
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